On Holding AG (ONON) executive details Class A, Class B and option holdings

Rhea-AI Filing Summary

On Holding AG executive David Michael Allemann filed an initial ownership report showing substantial equity and option holdings in the company. He directly holds Class B Shares that are subject to transfer restrictions and potential mandatory conversion into Class A Shares under a shareholders' agreement. He also directly holds Class A Shares and fully vested non-qualified stock options granted under the 2020 long-term incentive plan, which are exercisable at an exercise price of $0.773 per share until their stated expiration dates.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Allemann David Michael

(Last) (First) (Middle)

C/O ON HOLDING AG

FORRLIBUCKSTRASSE 190

(Street)

ZURICH 8005

(City) (State) (Zip)

UNITED STATES

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
On Holding AG [ ONON ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Executive Officer

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Class A Shares	2,781,108	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Class B Shares	(1)	(1)	Class A Shares	10,000,000	(1)	D
Non-Qualified Stock Option (Right to Buy)	11/29/2021(2)	11/29/2028	Class B Shares(1)	2,110,534	$0.773	D
Non-Qualified Stock Option (Right to Buy)	12/06/2022(2)	12/06/2029	Class B Shares(1)	1,051,966	$0.773	D

Explanation of Responses:

1. The Class B Shares are subject to transfer restrictions and rights of first refusal in favor of the other members of the Issuer's extended founder team pursuant to a shareholders' agreement. Upon the occurrence of certain individual or general sunset events specified in the shareholders' agreement, the Class B Shares are subject to mandatory conversion into Class A Shares within a specified timeframe. Conversion of Class B Shares into Class A Shares results in ten (10) Class B Shares being converted into one (1) Class A Share.

2. Stock Option granted under the Issuer's Long Term Incentive Plan 2020 (the "LTIP 2020"). All options granted under the LTIP 2020 met their full vesting requirements in connection with the Issuer's initial public offering in September 2021, which constituted an exit event. Outstanding awards under the LTIP 2020 are fully vested and exercisable. Vested options may be exercised until the seventh anniversary of the contractual granting date.

	/s/ Zlatina Iliev, Attorney-in-Fact	03/18/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 3: SEC 1473 (03-26)

FAQ

What does David Michael Allemann report owning in On Holding AG (ONON)?

David Michael Allemann reports direct holdings of Class A and Class B Shares, plus vested stock options. The filing lists his equity stake and fully vested non-qualified stock options, giving a detailed view of his current ownership position in On Holding AG.

How are David Michael Allemann’s Class B Shares in On Holding AG (ONON) structured?

His Class B Shares are subject to transfer restrictions and rights of first refusal. Under a shareholders' agreement, certain individual or general sunset events can trigger mandatory conversion of these Class B Shares into Class A Shares within a specified timeframe.

What conversion terms apply to On Holding AG (ONON) Class B Shares held by Allemann?

Class B Shares may convert into Class A Shares upon specified sunset events. The agreement states that conversion results in ten Class B Shares being converted into one Class A Share, reflecting a defined economic and voting rights structure between the two share classes.

What stock options does David Michael Allemann hold in On Holding AG (ONON)?

He holds fully vested non-qualified stock options under the LTIP 2020. These options, granted in connection with the 2020 long-term incentive plan, became fully vested at the company’s September 2021 initial public offering and remain exercisable until their seventh anniversary dates.

At what price can Allemann exercise his On Holding AG (ONON) stock options?

His non-qualified stock options are exercisable at an exercise price of $0.773 per share. These options relate to Class B Shares and are fully vested, with stated expiration dates in 2028 and 2029, reflecting long-dated incentive-based exposure.